USDCAD The Canadian dollar spent yesterday in the lower half of the Value Area, overall resembling a flat pattern. However, it was somewhat unexpected to see downward movement in the second half of the day, when an upward move would have been more logical. Today, the Value Area has shifted downwards and there is no mandatory zone. The day opened at the top of the Value Area, but then the price moved higher and spent the entire Asian session outside the Value Area. Currently, there is an attempt to move back inside the Value Area. Ideally, it would be better for the action to stay outside the Value Area - for this to happen, the price needs to break above the upper boundary and preferably move above the Key Trading Level (KTL). However, during the Asian session, the price respected the KTL and did not break above it, with little to no approach towards the KTL. Therefore, there is a possibility of a repetition of yesterday's flat pattern here. It might occur between the KTL and the upper boundary. Alternatively, it could happen in the upper part of the daily channel.
